Richard Bruton (Dublin North Central, Fine Gael)
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Question 118: To ask the Minister for Finance the cost of raising tax credits and the tax cut off points by 4.5% in the 2009 income tax code. [33174/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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Using the data in the Pre-Budget 2009 income tax ready reckoner, a 4.5% increase in the value of the main personal credits (basic personal credit and employee credit) and the tax bands would cost about €645 million in a full year. The costs quoted are provisional, subject to revision and estimated to the nearest €5 million. The ready reckoner is available on my Department's website, at www.finance.gov.ie.

Richard Bruton (Dublin North Central, Fine Gael)
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Question 119: To ask the Minister for Finance the revenue that would be raised by applying medical relief only at the standard rate of 20% in 2009. [33175/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am advised by the Revenue Commissioners that if relief for health expenses was confined to the standard rate of income tax the saving to the Exchequer could be of the order of €155 million in a full year.

Richard Bruton (Dublin North Central, Fine Gael)
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Question 120: To ask the Minister for Finance the revenue that would be raised by reducing the maximum allowable amount of tax relief on pension contributions by €50,000, by €100,000 and by €150,000 respectively in 2009. [33176/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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It is assumed that the Deputy is referring to the current annual earnings cap of €275,239 which operates to limit the level of tax relieved personal pension contributions in any one year. The annual earnings cap acts, in conjunction with age-related percentage limits of annual earnings, to put a ceiling on the annual amount of tax relief an individual taxpayer can obtain on pension contributions.

The full year yields to the Exchequer arising from reducing the earnings cap by the amounts mentioned in the question are estimated as follows:

A breakdown of the figures by reference to income levels is available only in respect of the tax relief for contributions to Retirement Annuity Contracts (RACs) and Personal Retirement Savings Accounts (PRSAs) to the extent that these contributions are included in the personal tax returns of tax payers.

With regard to occupational pensions, (that is, schemes set up by the employer), the figures in respect of employee contributions are available only in aggregate form. Information on such contributions is not captured in such a way as to make it possible to associate contributions with individual income levels. For that reason the estimated yields to the Exchequer provided in respect of these contributions are extremely tentative.

Richard Bruton (Dublin North Central, Fine Gael)
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Question 121: To ask the Minister for Finance the revenue that would be raised by reducing the combined value of tax reliefs that an individual can claim in 2009 under the rules for capping, by €50,000, by €100,000 and by €150,000 respectively in 2009. [33177/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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It is assumed that the Deputy is referring to the restriction of reliefs measure announced in Budget 2006, which took effect on 1 January 2007. It is estimated by the Revenue Commissioners that reducing the threshold of €250,000 and the marginal relief limit of €500,000 by the stated amounts would result in the following full year yields to the Exchequer in 2009:

As the closing date for tax returns for the 2009 tax year will not be until 31 October 2010, there would be a minimal yield from any of these proposals in 2009. These estimates are based on personal income tax data for 2005, with income and numbers projected forward for growth up to 2009.

Richard Bruton (Dublin North Central, Fine Gael)
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Question 122: To ask the Minister for Finance the revenue that would be raised by reducing all remaining tax reliefs, other than for pension contributions, in the tax code to be only claimable at the standard rate of tax in 2009. [33178/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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I am advised by the Revenue Commissioners that the deductions and reliefs which are allowable for tax at an individual's marginal rate of income tax, other than pension contributions, and for which estimates of cost can be provided are set out as follows together with estimated costs for the year 2005, the most recent year for which the necessary detailed information is available except where otherwise stated. If relief for these deductions and reliefs was confined to the standard rate of income tax the saving to the Exchequer could be of the order of €550 million.

This estimate does not take into account any possible behavioural change on the part of taxpayers as a consequence of such a change or the economic effect of such a change. This applies in particular to the BES, Film Relief and Capital Allowances regime. The standard rating of employee pension reliefs would also have an impact on workers' take home pay.

Richard Bruton (Dublin North Central, Fine Gael)
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Question 123: To ask the Minister for Finance the revenue from a carbon tax of €20 and €25 per tonne of CO2 respectively applied to all energy related sources of CO2, excluding those participating in the emission trading scheme; and his estimate of the absolute and percentage increase in the retail price of energy sources used by families and businesses. [33179/08]

Brian Lenihan Jnr (Dublin West, Fianna Fail)
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The Deputy will be aware the matter of a carbon tax is being considered by the Commission on Taxation and the Commission is due to report by September 2009 at the latest. I am informed by the Revenue Commissioners that the estimated impact of a carbon tax at the levels suggested on the retail prices of energy sources are set out in the following table:

Given that the precise design of the carbon tax is yet to be determined as well as other factors such as consumer behaviour, it is not possible to accurately predict the revenue. A lot obviously depends on the assumptions underpinning any anticipated yield. For the purpose of this exercise, it is assumed a carbon tax would apply to both commercial and non-commercial use of diesel, petrol, kerosene, gasoil and LPG. In relation to peat, coal and natural gas, consumption figures (SEI 2007) for the residential sector alone are used because the majority of commercial consumption of these commodities is used in the production of electricity which is covered by the ETS. Under these assumptions it is estimated that a carbon tax at the rates suggested could provide gross yields of approximately €430m and €560m per annum respectively.